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Scholastic Hikes Dividend 20%

The children's book publisher increased the payout on its Class A and common shares.

Children's book publisher Scholastic(NASDAQ:SCHL)announced today its second-quarter dividend of $0.15 per share on its Class A and common stock, a 20% increase in the payout made to investors last quarter of $0.125 per share.

The board of directors said the quarterly dividend is payable on December 16 to holders of record at the close of business on October 31. The regular dividend payment equates to a $0.60-per-share annual dividend, yielding 2% based on the closing price today of Scholastic's stock.

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